Personal Business

 Published 04.10.2011
Text by: Aaron Grunwald

Crisis dampens family spend

Economy: Household spending has steadily declined since 2007, Luxembourg’s official statistics body said Monday.

Crisis dampens family spend Photo(s) : Etienne Delorme (archives)

Statec reported that total average household expenditures were 4,687 euro per month in 2009, compared to 4,850 euro in 2008 and 4,894 euro in 2007. However, the latest figure is still higher than the monthly average reported in 2006--4,810 euro--and in 2005--4,396 euro.

The agency also said Luxembourg households spend about 11 percent--more than 500 euro--of their monthly budgets outside the Grand Duchy, a proportion that has been more or less stable since 2005.

In addition, there is variation in spending based on nationality. Belgians and Luxembourgers typically run through more than 4,800 euro per month on average, while Italian families shell out just more than 4,500 euro and Portuguese average a tad over 4,000 euro.

Luxembourg households use about 9 percent of their budgets for food and non-alcoholic beverages, compared to the EU average of 17 percent and 44 percent in Romania.

The report is based on an annual survey of 1,000 Luxembourg households, chosen at random, that statistically represent the population.

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Keywords:   STATEC, economy, budget, consumer, household, purchasing power, personal business

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